Fitch gives Allstate notes BBB+

Fitch Ratings said it has assigned a BBB+ rating to Allstate Corp.'s $700 million of 10-year senior notes and $300 million five-year senior notes.

Proceeds from the issuance will be used to repay $750 million of senior notes maturing in December of this year with the balance used for general corporate purposes, the agency said.

The outlook for Allstate's ratings, including financial strength ratings at both the property/casualty and life insurance operations, is negative, the agency said.

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